Evercore ISI Cuts Hawaiian Electric Industries (NYSE:HE) Price Target to $9.00

Hawaiian Electric Industries (NYSE:HE) had its price target reduced by Evercore ISI from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on HE. StockNews.com downgraded shares of Hawaiian Electric Industries from a hold rating to a sell rating in a research note on Monday, September 16th. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an underweight rating to an equal weight rating and set a $14.00 target price for the company in a research report on Friday, August 23rd.

Hawaiian Electric Industries Trading Down 1.3 %

Shares of NYSE:HE opened at $9.85 on Tuesday. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a 50 day moving average price of $13.09 and a 200 day moving average price of $11.35. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.83 and a beta of 0.55. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The company’s revenue for the quarter was down .2% on a year-over-year basis.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New Covenant Trust Company N.A. bought a new stake in Hawaiian Electric Industries in the first quarter valued at $32,000. Abich Financial Wealth Management LLC boosted its position in Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,137 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Hawaiian Electric Industries in the first quarter valued at about $42,000. Cape Investment Advisory Inc. bought a new stake in Hawaiian Electric Industries during the 4th quarter worth about $43,000. Finally, Signaturefd LLC raised its stake in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after buying an additional 1,986 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.